Kirloskar Industries Share Price & Earnings Call Analysis

₹3,265.80+0.68% today

Market cap: ₹3,434 Cr
P/E: 11.21
ROE: 3.77%
PEG: 3.53
Price to sales: 0.48
Debt to equity: 0.18
52W high / low: ₹4,313 / ₹2,472
Sales growth (5Y): 27.31%
EBITDA margin: 12.26%
Net profit margin: 7.51%
Promoter holding: 71.87%
Sales (last year): ₹6,995 Cr

All 12 ratios ↓

Kirloskar Industries Limited is the listed core investment company of the Kirloskar Group. Its consolidated operations are dominated by 46%-owned subsidiary Kirloskar Ferrous Industries Limited, an integrated ferrous manufacturer spanning iron ore, pig iron, castings, alloy steel and seamless tubes. KIL also owns Avante Spaces, which is developing Grade-A commercial real estate in Pune, and holds strategic listed stakes in Kirloskar Brothers, Kirloskar Oil Engines and Kirloskar Pneumatic. The parent’s standalone income is mainly dividends, interest and investment returns; consolidated analysis is necessary to capture KFIL and the real-estate investment cycle.

Potential multibaggers · Q2 FY27

Potential multibaggers in Industrial Products
on management's own guidance

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Ranks describe management commentary on revenue and margin from the latest earnings call. Not investment advice.

Peers

Industrial Products companies ranked on guidance

#	Company	Revenue guided	Margin guided	Market cap	P/E
1		40%+	Up 2%+	₹448 Cr	17.9
2		40%+	Up 2%+	₹413 Cr	12.0
3		40%+	Up 2%+	₹324 Cr	22.7
4		40%+	Up 0–2%	₹1,496 Cr	32.8
5		40%+	Up 0–2%	₹1,079 Cr	12.7
6		40%+	Flat	₹827 Cr	21.4

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Financials of Kirloskar Industries

Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.

Financials of Kirloskar Industries

Quarterly Results

Quarter-by-quarter operating performance

	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026
Sales +	1,574	1,508	1,578	1,554	1,729	1,559	1,688	1,614	1,748	1,705	1,782	1,624	1,827
Expenses +	1,352	1,300	1,315	1,325	1,488	1,380	1,476	1,441	1,542	1,487	1,548	1,440	1,612
Operating Profit	222	209	263	228	240	179	212	172	206	219	233	184	216
OPM %	14%	14%	17%	15%	14%	11%	13%	11%	12%	13%	13%	11%	12%
Other Income +	17	10	-25	14	-19	12	19	12	39	14	13	-11	47
Interest	26	30	30	30	32	34	37	39	36	34	33	29	30
Depreciation	49	47	58	64	73	61	64	66	67	65	68	68	70
Profit before tax	164	142	150	148	116	96	130	79	142	133	145	75	162
Tax %	43%	34%	39%	29%	39%	31%	29%	33%	32%	28%	32%	34%	32%
Net Profit +	93	94	91	105	71	66	92	53	97	95	98	49	110
EPS in Rs	44.39	41.13	46.00	51.06	61.67	28.72	47.75	23.09	44.94	42.10	49.17	19.35	41.01

Financials of Kirloskar Industries

Profit & Loss

Annual income statement trend

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Sales +	1,368	1,119	1,137	1,826	2,222	1,916	2,080	3,810	6,490	6,396	6,629	6,939
Expenses +	1,222	970	968	1,674	1,962	1,650	1,598	3,125	5,603	5,430	5,839	6,087
Operating Profit	147	148	170	152	260	265	482	685	886	966	789	852
OPM %	11%	13%	15%	8%	12%	14%	23%	18%	14%	15%	12%	12%
Other Income +	52	56	50	2	2	14	2	10	43	-45	62	62
Interest	30	24	14	13	18	19	27	31	97	122	146	126
Depreciation	51	45	47	51	57	60	79	95	175	242	259	272
Profit before tax	117	136	159	91	188	200	378	568	658	556	447	516
Tax %	27%	26%	25%	25%	30%	25%	18%	44%	30%	35%	31%	31%
Net Profit +	86	100	119	68	132	151	311	316	460	361	308	354
EPS in Rs	63.50	74.46	77.66	51.10	86.60	98.77	168.71	197.95	220.11	201.86	143.18	151.22
Dividend Payout %	32%	27%	26%	41%	24%	10%	6%	5%	5%	6%	9%	9%

Financials of Kirloskar Industries

Balance Sheet

Capital structure and asset base

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital	10	10	10	10	10	10	10	10	10	10	10	11
Reserves	750	799	875	1,779	1,356	1,023	1,736	2,319	3,243	4,982	6,284	6,170
Borrowings +	133	108	97	88	138	323	305	1,216	979	1,236	1,283	1,113
Other Liabilities +	589	515	597	829	938	954	1,145	3,241	3,301	3,534	4,073	4,367
Total Liabilities	1,482	1,432	1,578	2,706	2,441	2,310	3,196	6,786	7,534	9,761	11,651	11,660
Fixed Assets +	548	556	587	599	650	897	1,057	2,780	3,107	3,259	3,597	3,689
CWIP	31	8	19	76	62	144	243	418	423	768	653	733
Investments	422	511	505	1,423	933	541	1,068	1,190	1,575	3,392	4,730	4,399
Other Assets +	480	357	467	608	796	728	828	2,398	2,429	2,342	2,672	2,839
Total Assets	1,482	1,432	1,578	2,706	2,441	2,310	3,196	6,786	7,534	9,761	11,651	11,660

Financials of Kirloskar Industries

Cash Flows

Operating, investing and financing cash movement

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Cash from Operating Activity +	156	104	88	107	112	185	256	317	760	576	598	870
Cash from Investing Activity +	-56	6	-51	-31	-108	-258	-194	-211	-369	-600	-537	-471
Cash from Financing Activity +	-101	-113	-28	-87	-4	108	-56	-56	-397	-5	-70	-355
Net Cash Flow	-1	-4	9	-11	0	35	6	50	-5	-29	-8	45
Free Cash Flow	97	70	14	19	-52	-134	36	-111	345	84	95	420
CFO/OP	119%	87%	72%	88%	61%	84%	73%	66%	110%	79%	90%	106%

Financials of Kirloskar Industries

Ratios

Working capital efficiency and return ratios

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Debtor Days	47	46	63	59	62	56	63	78	46	52	58	57
Inventory Days	52	57	76	64	66	77	94	138	111	113	108	101
Days Payable	91	84	102	105	116	122	122	149	101	95	104	111
Cash Conversion Cycle	8	19	37	17	12	11	35	66	55	70	62	47
Working Capital Days	-25	-6	14	3	30	38	34	72	47	52	57	38
ROCE %	13%	14%	14%	6%	10%	12%	19%	15%	13%	11%	7%	7%

Momentum score · price trend

22 out of 100 — Cooling

Over the past year its share price has done worse than most of the stocks we track.

Period	Share price change	Better than … of 1,910 stocks
Last 12 months	−14.5%	43%
Last 6 months	−1.1%	53%
Last 3 months	−17.9%	24%

The price is 49.9% below its all-time high of ₹6,471.55 (18 May 2024). Stocks more than 20% below their peak have their score halved, so 43 became 22.

How we calculate it

“Better than 30%” means that over that period the share price did better than 30 out of every 100 stocks we track (1,910 Indian companies worth ₹500 Cr or more, with at least a year of prices).

The score weighs the longer periods more: 40% × 12-month + 40% × 6-month + 20% × 3-month. For Kirloskar Industries: 0.4 × 43 + 0.4 × 53 + 0.2 × 24 = 43, halved to 22 because the price is more than 20% below its all-time high.

Strengthening is 70 and above, Steady 40 to 70, Cooling below 40. Scores are recalculated every night after the market closes.

Full methodology →

This describes only how the share price has moved up to 2 Nov 2026, compared with other stocks. It says nothing about the business, and it is not a prediction, a price target or a recommendation to buy or sell.

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